The Nets sent Gerald Wallace, Kris Humphries, MarShon Brooks, a signed-and-traded Keith Bogans, Kris Joseph, and first-round draft picks in 2014, 2016 and 2018 to the Celtics. The Celtics also have the right to swap first-round draft picks with the Nets in 2017.

"Today, the basketball gods smiled on the Nets," team owner Mikhail Prokhorov said in a statement. "With the arrival of Kevin Garnett and Paul Pierce, we have achieved a great balance on our roster between veteran stars and young talents. This team will be dazzling to watch and tough to compete against."

The deal was agreed to in principle on draft night but could not become official until Friday -- two days after the NBA moratorium on transactions was lifted -- because Joseph couldn't be traded until three months had elapsed from the day he signed with the Nets as a free agent.

The Nets now enter the 2013-14 season with one of the most potent starting lineups in the NBA with Pierce, Garnett, Deron Williams, Joe Johnson, and Brook Lopez. They will be lead by rookie head coach Jason Kidd.

Garnett, Pierce, and Terry will be introduced by the Nets during a news conference Thursday at Barclays Center.